Asian Development Bank Act · s 8

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8.
Certain provisions of Agreement to have force of law
(1) The provisions of Chapter VIII of the Agreement set out in the
Schedule shall have the force of law:
Provided that —
(a) the Bank, its property and its operations and transactions shall be exempt in accordance with Article 56 from all taxation and any obligation for the payment, withholding or collection of any tax or duty, including any indirect tax, such as a sales or value-added tax;
(b) nothing in Article 56 shall be construed as conferring on the
Bank any exemption from taxes or duties which are in fact no more than charges for services rendered;
(c) the Bank shall be allowed to import free of all customs duties, taxes and other levies goods and articles, and any goods and articles imported under such exemption may be disposed of locally, subject to such terms as may be agreed upon with the Government which shall not be less favourable than those applicable to any other international organisation and government including its diplomatic mission in Brunei Darussalam.
(2) The Minister may, by notification published in the Gazette, amend the Schedule in conformity with any amendments to the Agreement set out therein which may hereafter be made and adopted.
Chapter 39 shall not apply.

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s 8Certain provisions of Agreement to have force of law

(1)

The provisions of Chapter VIII of the Agreement set out in the

Schedule shall have the force of law:

Provided that —

(a)

the Bank, its property and its operations and transactions shall be exempt in accordance with Article 56 from all taxation and any obligation for the payment, withholding or collection of any tax or duty, including any indirect tax, such as a sales or value-added tax;

(b)

nothing in Article 56 shall be construed as conferring on the

Bank any exemption from taxes or duties which are in fact no more than charges for services rendered;

(c)

the Bank shall be allowed to import free of all customs duties, taxes and other levies goods and articles, and any goods and articles imported under such exemption may be disposed of locally, subject to such terms as may be agreed upon with the Government which shall not be less favourable than those applicable to any other international organisation and government including its diplomatic mission in Brunei Darussalam.

(2)

The Minister may, by notification published in the Gazette, amend the Schedule in conformity with any amendments to the Agreement set out therein which may hereafter be made and adopted.

Chapter 39 shall not apply.